How were your holidays? I hope each and every one of you had a wonderful time with your family and loved ones over the holiday season. I know I always feel particularly lucky after getting to spend Christmas with my family.
Now that the holidays are over, though, we have to get back to the reality of day-to-day life. For many folks that reality includes the mound of holiday debt that is leftover from our holiday celebrations. If you’ve got one of these holiday debt mounds facing you, I challenge you to start showing that debts who’s in charge right away. Before you know it the debt can be gone and you can go back to enjoying your holiday memories.
Here are three tips that should help:
Cut entertainment expenses from your budget. If you’re willing to cut extras like entertainment from your budget, you can make some serious headway towards paying down your holiday debt. Commit to skipping movies and restaurant outings until your debt is gone. Once you’ve cleared away that holiday debt you can always start introducing a little fun back into your budget.
Get a part-time job. Although no one relishes the thought of working a second job, an extra paycheck could allow you to knock your holiday debt out in no time. Look for temporary jobs that suit your needs as well as the employer’s needs. Perhaps you could be an inventory clerk. These temporary jobs all you and the employer to happily part ways once you’ve earned enough to vanquish your debt without feeling any guilt about ending your relationship.
Sell some stuff. A relatively pain-free way to raise some extra cash to pay off your holiday debt is to sell some of your unwanted belongings. You can sell things on eBay, through Craigslist, or simply at a consignment store. Look for gently used clothes, toys, and household items that are ready to start new lives with other people. Although none of these items will bring you huge amounts, a large group may help you start to chip away at your holiday debt.
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{ 3 comments… read them below or add one }
The best tip that I know of is to not let this holiday debt get bad in the first place.
Stretch your holiday shopping out over the course of the year, that way there should be less of a “January hangover”.
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